A business partner I want to bring on is willing to invest more than I am at this stage in the business, but I will be more actively involved in the day to day operations. I want to give him 40% of the company and I retain 60% ownership.. Can somebody advise whether this is in normal practice and reasonable? I've never opened a business of this scale and have never brought on a partner to this capacity.
It's a pretty good opportunity. Firstly don't miss it. If u go for 60:40, there may be a chance of clashes between you and your partner and ultimately both will suffer. it is the time to act smartly. agree on 50:50 along with some commission or incentive or remuneration or salary or allowance or perquisite, by whatever name called, for yourself exclusively. business in today"s era has become a bit complex equation and in your case there comes fact of matter of capital.
for more advice on this issue you may follow up mu advice on call.
Thnaks and Regards.